Mobile Edge Computing Market Size, Share, Growth Analysis, By Component (Hardware, Software), By Organization size (Large Enterprises, SMEs), By Application (Location-based Services, Unified Communication), By Region - Industry Forecast 2024-2031


Report ID: SQMIG50A2014 | Region: Global | Published Date: December, 2024
Pages: 157 |Tables: 162 |Figures: 78

Mobile Edge Computing Market Insights

Global Mobile Edge Computing Market size was valued at USD 0.8 Billion in 2022 and is poised to grow from USD 1.12 billion in 2023 to USD 11.92 billion by 2031, growing at a CAGR of 34.3% in the forecast period (2024-2031).

Mobile edge computing (MEC) also called multi access edge computing is a type of edge computing that expands its capabilities by bringing cloud computing to the network's edge. MEC permits operations to take place in base stations, central offices, and other aggregation points on the network, as opposed to traditional cloud computing, which takes place on remote servers located far from the user and device. MEC improves the quality of experience (QoE) for end users by offloading cloud computing workloads to specific local servers. This helps reduce congestion on mobile networks and decrease latency.

Drone detection and video analysis are some applications that make use of mobile edge computing. These applications include augmented reality (AR), enterprise mixed reality (MR), and virtual reality (VR), as well as multiplayer and cloud gaming. MEC has grown to be essential in the mining, energy, and utility sectors as well. Offshore mining operations have traditionally used satellite technology as their primary method of communication, as well as hybrid storage and cloud computing strategies for data processing and transfer, which has resulted in a loss of resources and time. End-use businesses are now more dependable storage and communication systems to analyse massive amounts of data created at remote locations as a result of the need for improvement on these fronts. Edge computing and big data analytics combined may provide the market with promising growth opportunities. Multi-access edge computing is being used more and more by service providers across industries, including financial services, manufacturing, energy, and agriculture, to improve their ability to make business decisions, access financial instruments, and gather competitive intelligence.

US Mobile Edge Computing Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 0.8 Billion

Largest Segment

Hardware

Fastest Growth

Hardware

Growth Rate

34.3% CAGR

Global Mobile Edge Computing Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)

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Mobile Edge Computing Market Segmental Analysis

Global Mobile Edge Computing Market is segmented by Component, by Application, by Organization Size and by Region. Based on Component, the market is segmented into Hardware, and Software. Based on Application, the market is segmented into Location-based Services, Video Surveillance, Unified Communication, Optimized Local Content Distribution, Data Analytics, Environmental Monitoring. Based on Organization Size, the market is segmented Large Enterprises, and Small and Medium-sized Enterprises (SMEs). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Mobile Edge Computing Market Analysis by Component

The hardware segment dominated the market of mobile edge computing in 2021. This can be attributed to the telecom sector's expanding use of 5G technology, which drives up demand for mobile edge computing hardware. Real-time decision-making is necessary for the control of autonomous vehicles, which are also becoming more and more common. For processing large amounts of data in real-time, high-performance MEC hardware is essential. Leading companies in the market are creating and introducing advanced hardware. To meet the needs of the user and ensure serviceability, availability, and reliability, businesses are offering small, affordable, and customizable products.

The software segment is anticipated to account for substantial market growth during the forecast period. Multiple IoT devices are available within a MEC-based ecosystem, which decreases the need for specialised software that operates and performs in accordance with the MEC architecture. Additionally, solution providers like Verizon have started to provide software development kits to their clients, allowing internal teams to develop programmes that are tailored to the needs and objectives of the company. The demand for software that can provide distributed processing, multi-level load balancing, and content synchronisation is accelerating the growth of the software market.

Mobile Edge Computing Market Analysis by Application

Location based segment dominated the market share of global mobile edge computing market in 2021 owing to the development of new technologies and sophisticated data transmission methods like 5G and cloud computing. A location-based service provides applications with permission or mobile edge platforms with location-based data. To perform active device location tracking and location-based service recommendation, the mobile edge platform or applications use location-related information.

Unified communication segment is expected to grow at a high CAGR during the forecast period. The term "unified communications" refers to the consolidation of various enterprise communication tools, such as voice calling, video conferencing, Instant Messaging (IM), presence, and content sharing, into a single, streamlined interface. There is a high demand for mobile edge computing technology as a result of the replacement of fixed communication hardware with smartphones and cloud platforms. This technology's deployment enables enterprise applications to efficiently use unified communication tools.

Global Mobile Edge Computing Market By Component, 2021 (%)

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Mobile Edge Computing Market Regional Insights

North America dominated the Global Mobile Edge Computing Market and accounted for approximately 43% revenue share in 2021. This is caused because of the expanding use of cutting-edge technologies and growing demand for network devices. Additionally, there is a significant demand for MEC technology throughout the region, particularly in the United States and Canada, due to the expanding telecommunications sector and the increasing adoption of cloud services by businesses. The United States is a significant centre for cloud service providers, which offer cloud platforms all over the world. The three most popular cloud computing platforms are Google Cloud, Amazon Web Services, and Microsoft Azure. Edge computing strategies are being created and added to their platforms.

Asia Pacific region is anticipated to grow at the fastest growth rate during the forecast period. This is a result of rising investments in cloud and Internet of Things (IoT) technologies and widespread use of smart devices, particularly in China, Japan, and India. AI and IoT will have more industrial applications in China as local businesses accelerate their digital transformation and implement cutting-edge technologies to increase productivity and cut costs. By 2025, it is anticipated that 60 percent of Chinese businesses will be fully digital, supporting the market's anticipated revenue expansion. India is gradually becoming more digitalized overall.

Global Mobile Edge Computing Market By Geography, 2021-2028
  • Largest
  • Fastest

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Mobile Edge Computing Market Dynamics

Mobile Edge Computing Market Driver

  • Rising Demand for Cloud Infrastructure and Development of 5G Technology
  • Increased demand for global cloud infrastructure and an increase in the number of intelligent applications are some factors that are driving the growth of the market. The desire to enhance end-user QoE (Quality of Experience) and the need for ultra-low latency are driving factors behind the rising demand for mobile edge computing solutions. MEC offers support for data processing and analysis for real-time applications.
  • The development of 5G technology offers the MEC market a variety of opportunities. A new wave of innovation has been unleashed due to 5G and edge computing. The ability of 5G to transfer enormous amounts of data from billions of connected devices is anticipated to hasten the adoption of connected and smart devices in all sectors of the economy. In every industry, 5G and edge computing present opportunities to enhance digital experiences, performance, data security, and continuous operations by bringing cloud computing resources closer to the locations where data is generated. The 5G network and the introduction of numerous new languages and frameworks for IoT solutions are expected to significantly boost the mobile edge computing market over the coming years.

Mobile Edge Computing Market Restraint

High Maintenance Cost and Dearth of Skilled Workers

  • Mobile edge computing requires more local hardware, thus the market's anticipated growth could be hampered by rising maintenance cost. Edge computing needs constant updating and monitoring despite being generally safe because sophisticated cyber-attacks are becoming more frequent. Individual MEC nodes and 5G critical services could be the target of lethal Distributed Denial-of-Service (DDos) attacks that might not have been noticed in a centralised data centre.
  • Additionally, there is a lack of skilled workers to manage the extremely complex technologies. Lack of infrastructure and deployment capability may limit the growth of the market.

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Mobile Edge Computing Market Competitive Landscape

Global Mobile Edge Computing Market is moderately fragmented due to few major and medium­­‑size players. To increase their market share, the major companies in the international market are implementing a variety of business tactics, including mergers and acquisitions, expansions, and investments. Major players include Adlink Technology Inc., Artesyn Embedded Technologies Inc., Juniper Networks, Inc., IBM Corporation and Intel Corporation. Leading companies are also working with companies that are promoting multi-access edge computing.

Mobile Edge Computing Market Top Player's Company Profiles

  • Nokia Corporation 
  • Huawei Technologies Co., Ltd. 
  • Intel Corporation 
  • Dell Technologies Inc. 
  • Hewlett Packard Enterprise Development LP (HPE) 
  • Cisco Systems, Inc. 
  • IBM Corporation 
  • Juniper Networks, Inc. 
  • Commscope 
  • Advantech Co., Ltd. 
  • Zenlayer Inc. 
  • ADLINK Technology Inc. 
  • Fujitsu Limited 
  • Vapor IO, Inc. 
  • ESW Capital

Mobile Edge Computing Market Recent Developments

  • In August 2022, Sidus Space, Inc., a Space-as-a-Service business, recently signed a Satellite Deployment contract with Exo-Space in order to integrate and launch its artificial intelligence software technology on Earth Observation satellites. The payload from Exo-Space will be integrated into LizzieSat TM, a hybrid 3D-printed satellite that Sidus Space anticipates launching in 2023. Manufacturing mission-critical hardware along with commercial satellite design, manufacture, launch, and data collection are the main areas of focus for Sidus.
  • In May 2022 EnduroSat, a leading provider of space services and software-defined NanoSats for academics and business announced that it will use IBM and Red Hat's hybrid cloud, AI technologies, and open-source to launch into a low earth orbit, according to an announcement from. EnduroSat's software-defined NanoSat, which integrates IBM's in-orbit Edge Computing payloads and earth observation, will be launched from Cape Canaveral in Florida.

Mobile Edge Computing Key Market Trends

Introduction of Advanced Technologies to Boost Mobile Edge Computing Market Growth

  • Multi-access edge computing (MEC) is advantageous for augmented reality (AR) and virtual reality (VR), as both applications call for extremely low latency and high bandwidth. Real-time data exchange between a device and the edge of a network is made possible by MEC. Within the MEC computing environment, AR/VR already exists. However, it is anticipated that these applications will expand as MEC and 5G both advance. Even though the applications require a lot of processing power and drain a phone's battery, the AR/VR industry will focus on smartphones. The next major edge computing use case in the entertainment industry will be immersive AR/VR experiences at events and venues. Real-time video streams will be used by venues to use MEC to let the audience zoom in on the action in front of them. Other upcoming trends for MEC and AR/VR include use cases in education and training as well as smartphone applications.

Mobile Edge Computing Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Mobile Edge Computing Market analysis, the demand for low-latency networks, localised data, and enhanced IoT is driving the market growth. The quality of experience (QoE) has been enhanced by mobile edge computing in a number of sectors, including entertainment, manufacturing, and transportation. Additionally, independent public cloud service providers, networking companies, industrial automation companies, and software suppliers are all making inroads into the MEC market to take advantage of the promising growth prospects the dynamic technology market presents. In order to position themselves as significant facilitators, new entrants and startups are working to create innovative strategies and solutions. These factors are expected to boost the market growth in upcoming years.

 

Report Metric Details
Market size value in 2022 USD 0.8 Billion
Market size value in 2031 USD 11.92 billion
Growth Rate 34.3%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Hardware (Servers, Routers, Switches, Controllers, Gateways), Software (MEC Platform, Application Software)
  • Application
    • Location-based Services, Video Surveillance, Unified Communication, Optimized Local Content Distribution, Data Analytics, Environmental Monitoring
  • Organization Size
    • Large Enterprises, Small and Medium-sized Enterprises (SMEs)
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Nokia Corporation 
  • Huawei Technologies Co., Ltd. 
  • Intel Corporation 
  • Dell Technologies Inc. 
  • Hewlett Packard Enterprise Development LP (HPE) 
  • Cisco Systems, Inc. 
  • IBM Corporation 
  • Juniper Networks, Inc. 
  • Commscope 
  • Advantech Co., Ltd. 
  • Zenlayer Inc. 
  • ADLINK Technology Inc. 
  • Fujitsu Limited 
  • Vapor IO, Inc. 
  • ESW Capital
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Mobile Edge Computing Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Mobile Edge Computing Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Mobile Edge Computing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mobile Edge Computing Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mobile Edge Computing Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Mobile Edge Computing Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Mobile Edge Computing Market size was valued at USD 0.8 Billion in 2022 and is poised to grow from USD 1.12 billion in 2023 to USD 11.92 billion by 2031, growing at a CAGR of 34.3% in the forecast period (2024-2031).

Global Mobile Edge Computing Market is moderately fragmented due to few major and medium­­‑size players. To increase their market share, the major companies in the international market are implementing a variety of business tactics, including mergers and acquisitions, expansions, and investments. Major players include Adlink Technology Inc., Artesyn Embedded Technologies Inc., Juniper Networks, Inc., IBM Corporation and Intel Corporation. Leading companies are also working with companies that are promoting multi-access edge computing. 'Nokia Corporation ', 'Huawei Technologies Co., Ltd. ', 'Intel Corporation ', 'Dell Technologies Inc. ', 'Hewlett Packard Enterprise Development LP (HPE) ', 'Cisco Systems, Inc. ', 'IBM Corporation ', 'Juniper Networks, Inc. ', 'Commscope ', 'Advantech Co., Ltd. ', 'Zenlayer Inc. ', 'ADLINK Technology Inc. ', 'Fujitsu Limited ', 'Vapor IO, Inc. ', 'ESW Capital'

The development of 5G technology offers the MEC market a variety of opportunities. A new wave of innovation has been unleashed due to 5G and edge computing. The ability of 5G to transfer enormous amounts of data from billions of connected devices is anticipated to hasten the adoption of connected and smart devices in all sectors of the economy. In every industry, 5G and edge computing present opportunities to enhance digital experiences, performance, data security, and continuous operations by bringing cloud computing resources closer to the locations where data is generated. The 5G network and the introduction of numerous new languages and frameworks for IoT solutions are expected to significantly boost the mobile edge computing market over the coming years.

Multi-access edge computing (MEC) is advantageous for augmented reality (AR) and virtual reality (VR), as both applications call for extremely low latency and high bandwidth. Real-time data exchange between a device and the edge of a network is made possible by MEC. Within the MEC computing environment, AR/VR already exists. However, it is anticipated that these applications will expand as MEC and 5G both advance. Even though the applications require a lot of processing power and drain a phone's battery, the AR/VR industry will focus on smartphones. The next major edge computing use case in the entertainment industry will be immersive AR/VR experiences at events and venues. Real-time video streams will be used by venues to use MEC to let the audience zoom in on the action in front of them. Other upcoming trends for MEC and AR/VR include use cases in education and training as well as smartphone applications.

North America dominated the Global Mobile Edge Computing Market and accounted for approximately 43% revenue share in 2021. This is caused because of the expanding use of cutting-edge technologies and growing demand for network devices. Additionally, there is a significant demand for MEC technology throughout the region, particularly in the United States and Canada, due to the expanding telecommunications sector and the increasing adoption of cloud services by businesses. The United States is a significant centre for cloud service providers, which offer cloud platforms all over the world. The three most popular cloud computing platforms are Google Cloud, Amazon Web Services, and Microsoft Azure. Edge computing strategies are being created and added to their platforms.

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